# What is an annual report and do I have to file one? *Reviewed 2026-05-15* ## Short answer A business annual report is a periodic filing most states require to keep your LLC or corporation in good standing, confirming basic details like your address, officers, and registered agent. Most states charge a fee and set a deadline, and missing it can lead to penalties or administrative dissolution. The schedule and form vary by state. Despite the name, a state annual report is usually a short confirmation of company information, not a financial statement. States use it to keep their records current, and most charge a filing fee. Some states require it every year, others every two years, and a few use a franchise tax filing instead. The consequence of missing it is real: late fees, loss of good standing, and eventually administrative dissolution, which can interrupt your ability to operate or get licensed. Tracking each state's deadline is what keeps a multi-state company compliant. ## Related - [Annual report filing](/annual-reports) - [Business services](/services) - [Contact our team](/contact)